Family guarantee home loan nab

The new home loan, offered on the unique proposition of getting approved more easily, paying lower monthly instalments and receiving monthly retirement income, has been developed to capture the real needs of smart consumers who wish to plan for financial security throughout their lives, Sansiri chief financial officer Wanchak Buranasiri said after signing an agreement with the GSB on Monday. The company expects the new product to result in 50 per cent more Sansiri customers applying for a loan from the state-owned bank, he added. Sansiri realises the growing trend of financial planning for long-term security among consumers, Wanchak said. In Thailand, long-term financial planning has been a growing consumer trend during recent years. According to the Foundation of Thai Gerontology Research and Development Institute, up to 55 per cent of Thais aged 25 to 55 are increasingly taking serious steps in retirement financing plan. GSB’s … [Read more...] about New Sansiri, GSB product offers home loan, retirement financing in one package

These days, banks are offering home loans at a specified interest rate and tenures of 15 years for ordinary apartments and 25 years for condominiums. In the past, payments were mostly made in cash. The government has been building low-cost or affordable housing, but the homes can sometimes still be beyond the reach of those who need them the most, said U Nay Min Thu, managing director of property website iMyanmarHouse.com. “The people who actually want to purchase low-cost housing are not able to do so and instead [the property] falls into the hands of speculators. And incidents where these speculators then rent out the units or resell them for a profit are seen in the market,” said U Nay Min Thu. With loans now available, more are able to buy homes from not only private developers but also the government. Foreigners absent Despite those positive developments and the recently enacted Condominium Law, foreigners remain largely absent from the local … [Read more...] about Rising demand for home loans could stabilise property market

Whether you need a house to live in or for investment purposes, a home loan can usually be arranged from a bank of your choice. The eligibility criteria differ from bank to bank. Here are the five most important factors that feed into determining home loan eligibility criteria from all banks in Thailand: 1. Income: This is the important factor for defining the maximum loan amount you can borrow. We can categorise this by two groups – those receiving a wage or salary and the self-employed. Whichever category the applicant falls into, a steady and regular source of income is a must to ensure they have the funds to pay back the banks every month. Salary men/women. If you work for any government department or at any registered company, you belong to this group. Pay slips, bank statements and an employer reference letter are the documents almost all banks demand. Self-employed. If you have your own company or business, or have other sources of income such as owning rental … [Read more...] about How going online for home loans simplifies task

AYA Bank made the announcement on March 30 at a meeting with the media at its office in Yangon. Any Myanmar citizen who is 20 years of age and older with stable and reasonable income can apply for a loan. "Our aim is mainly for the employees to own a house or apartment worth from K200 lakhs to K1200 lakhs,"; said the managing director of AYA Bank, U Myint Zaw. The loan programs require minimum 30 per cent down payment and 13 per cent interest rate. Customers can enjoy loan tenor period up to 15 years, he added. As AYA Bank has always been a trusted partner to people, we aim to help the country’s economy and construction sector by developing the opportunities for people making their dreamed residences affordable, U Myint Zaw said. "With our customized individual home loan plans, we hope to build more trust between customers wanting to live in their own homes,companies and businesses." "Moreover, we’re fulfilling our corporate social responsibility and that of … [Read more...] about AYA Bank launches home loan plans

Home loans are getting more expensive as banks jack up mortgage rates again to as high as 2.05 per cent, the second increase in as many months, in line with sharply higher interest rates.This could dent some of the enthusiasm in the buoyant property market. One banker also warned that rising interest rates, coupled with declining rents and increasing vacancies raises the risk of defaults in investment properties as borrowers may not be able to cover the higher servicing costs.Since the start of 2018, banks have hiked interest rates for both fixed and floating home loan packages by 10 to 30 basis points.DBS Bank is now charging 1.95 per cent a year for each of the three years for its 3-year fixed rate package. UOB has increased its 3-year fixed rate package to 2.05 per cent a year for each of the three years.OCBC Bank has raised its 2-year fixed rate package to 1.85 per cent from 1.75 per cent a year for each of the two years. The third-year rate is 1.90 per cent which is made up of the … [Read more...] about Home loans get pricier as banks hike interest rates again